EQUITY TECHS: E-MINI S&P: (H6) Trend Set-Up Remains Bullish
- RES 4: 7089.25 1.000 proj of the Dec 18 - 26 - Jan 2 price swing
- RES 3: 7080.92 0.764 proj of the Nov 21 - Dec 11 - 18 price swing
- RES 2: 7036.74 0.764 proj of the Dec 18 - 26 - Jan 2 price swing
- RES 1: 7036.25 High Jan 13
- PRICE:7006.00 @ 14:31 GMT Jan 15
- SUP 1: 6949.05/6894.90 20- and 50-day EMA values
- SUP 2: 6771.50 Low Dec 18 and a key support
- SUP 3: 6684.50 Low Nov 24
- SUP 4: 6583.00 Low Nov 21 and a reversal trigger
The trend structure in S&P E-Minis is unchanged, it remains bullish and the latest pullback appears to have been a correction. Recent gains confirm a resumption of the primary uptrend and maintain the bullish price sequence of higher highs and higher lows. Sights are on 7036.74, a Fibonacci projection point. On the downside, initial support to watch lies at 6949.05 (pierced), the 20-day EMA. The 50-day EMA lies at 6894.90.
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GBPUSD TECHS: Bull Cycle Remains Intact
- RES 4: 1.3527 High Oct 1
- RES 3: 1.3471 High Oct 17
- RES 2: 1.3456 Intraday high
- RES 1: 1.3452 61.8% retracement of the Sep 17 - Nov 4 bear leg
- PRICE: 1.342 @ 14:41 GMT Dec 16
- SUP 1: 1.3342 Low Dec 12
- SUP 2: 1.3284 50-day EMA
- SUP 3: 1.3180 Low Dec 2
- SUP 4: 1.3125 Low Nov 26
A bullish extension last week in GBPUSD confirmed a resumption of the current uptrend. Sights are on 1.3452 next (pierced), 61.8% of the Sep 17 - Nov 4 bear leg. Clearance of this hurdle would strengthen a bull theme and open 1.3527, the Oct 1 high. Initial firm support is seen at 1.3286, the 20-day EMA. A clear break of this average would highlight a bearish development and signal a possible reversal.
EQUITY TECHS: E-MINI S&P: (H6) Corrective Pullback
- RES 4: 7100.00 Round number support
- RES 3: 7048.21 2.0% Upper Bollinger Band
- RES 2: 7014.00 High Oct 30 and the bull trigger
- RES 1: 6932.25/6988.00 High Dec 15 / 12
- PRICE: 6864.50 @ 14:28 GMT Dec 16
- SUP 1: 6830.94 50-day EMA
- SUP 2: 6785.50 50.0% retracement of the Nov 21 - Dec 11 rally
- SUP 3: 6737.71 61.8% retracement of the Nov 21 - Dec 11 rally
- SUP 4: 6684.50 Low Nov 24
A bull cycle in S&P E-Minis remains intact and the latest pullback - for now - is considered corrective. Initial support to watch is 6830.94, the 50-day EMA. A clear break of this average would signal scope for a deeper retracement. Note that the key support and reversal trigger lies at 6583.00, the Nov 21 low. For bulls, a resumption of gains would refocus attention on the key resistance and bull trigger at 7014.00, the Oct 30 high.
US TSY FUTURES: BLOCK: Mar'26 2Y Sale
- -5,000 TUH6 104-11.5, post time bid at 0929:08ET, DV01 $199,000.
- The 2y contract trades 104-11.38 last (-.25)
